Comments on: bankruptcy & disablity http://www.bankruptcy-ontario.org/bankruptcy/2007/02/bankruptcy-disablity.html Mon, 23 Jan 2012 18:51:03 +0000 hourly 1 By: J. Douglas Hoyes, CA, Trustee http://www.bankruptcy-ontario.org/bankruptcy/2007/02/bankruptcy-disablity.html/comment-page-1#comment-41 J. Douglas Hoyes, CA, Trustee Wed, 28 Feb 2007 12:16:57 +0000 http://www.bankruptcy-ontario.org/?p=112#comment-41 Part of the amount you must pay each month when you go <a HREF="http://www.bankruptcy-ontario.org/bankruptcy-Ontario.htm" REL="nofollow" rel="nofollow">bankrupt</a> is based on your income, so it may be that the amount a trustee quoted you is accurate.<br/><br/>If you truly believe that you must go bankrupt but cannot afford to pay, you can contact the <a HREF="http://strategis.ic.gc.ca/epic/site/bsf-osb.nsf/en/br01003e.html" REL="nofollow" rel="nofollow">Office of the Superintendent of Bankruptcy</a> and ask about their bankruptcy assistance program. They have trustees who will agree to administer your bankruptcy for a lower monthly fee. However, make sure you understand the full costs of this option, because your trustee may hold your bankruptcy open longer to recover more tax refunds or GST credits, meaning it may have been cheaper to simply pay the monthly fee to complete your bankruptcy. Part of the amount you must pay each month when you go bankrupt is based on your income, so it may be that the amount a trustee quoted you is accurate.

If you truly believe that you must go bankrupt but cannot afford to pay, you can contact the Office of the Superintendent of Bankruptcy and ask about their bankruptcy assistance program. They have trustees who will agree to administer your bankruptcy for a lower monthly fee. However, make sure you understand the full costs of this option, because your trustee may hold your bankruptcy open longer to recover more tax refunds or GST credits, meaning it may have been cheaper to simply pay the monthly fee to complete your bankruptcy.

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